Ivanhoe Corporation has issued three different bonds during $2024.$ Interest is payable annually on each of these bonds.

$($a$)$

Your answer is partially correct.

On January $1,2024,$ Ivanhoe issued $1,050,8\%,5-$year, $$1,000$ bonds dated January $1,2024,$ at face value. Prepare the journal entry to record the bond transaction at the date of issue. $($List debit entry before credit entry. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter O for the amounts.$)$

Date

Account Titles

Debit

Credit

Jan. $1$

Cash

Bonds Payable